Broke “Jersey Housewife” Teresa Giudice Facing Fraud Charges; Belongings To Be Sold At Public Auction

If you’re in the market for a tacky new sofa or living room furniture drapped in leopard-skin, have we got a deal for you: Cash-strapped Real Housewives of New Jersey star Teresa Guidice is facing fraud charges for lying about her finances in bankruptcy documents and will see dozens of her belongings sold during a public auction on Aug. 22.

Well — this could be the biggest embarrassment to hit The Garden State since the Net’s losing streak battle!

The Franklin Lakes socialite — who famously coined the phrase “Prostitution Whore” after flipping a table at fellow housewife Danielle Staub during last year’s season finale — was left shamefaced last month after documents revealing that Teresa and her husband Joe were on the verge of financial ruin surfaced online.

The Giudices are reportedly drowning in a sea of debt to the tune of more than $11 million. The family filed for bankruptcy protection earlier this year, but are now being charged with fraud for failing to report their additional income from several different revenues that include a Laundromat, a pizza place, and book sales.Reports also indicate that the couple lied about their income, their monthly expenses, and additional assets they own. Joe and Teresa have been charged by a bankruptcy trustee for lying under oath and faces fraud charges for forging mortgage documents.

The federal government will be auctioning many of the Giudices’ lavish possessions, which the couple is often seen flaunting on the reality show. The Jersey couple’s assets are being pillaged in order to distribute payments to their numerous creditors. Some of the belonging that are set to go on the auction block include their furnishings, accessories, tools, and even a boat.

Tune in for a half-hour of drama when The Real Housewives of New Jersey airs Monday nights @ 10/9 c on Bravo.